In Panama, the government is proposing resuming discussions with construction and real estate companies to update the regulations on the Horizontal Property Law, which has been in effect since 2010.
Although the law dates from 2010, there is still no regulation that establishes how the law should be implemented and how the government should ensure compliance. For that reason, the government intends to put the proposal back on the table to discuss it with the private sector.
The construction of a ten story residential tower, estimated at $16 million, has been announced. The building will house 96 apartments and will be located in Colonia San Benito, in San Salvador.
The construction company Urbánica Desarrollos Inmobiliarios reported that it will start, in December of this year or in January of 2019, construction on a housing complex called "AM Tower", which is expected to be ready in the second half of 2020.
About 100 real estate, financial and decoration exhibitors will be present at the Parque Viva Events Center in Costa Rica, from August 22nd to 26th.
Nacion.com explains that"...This year attendees can find a total of 52 real estate companies, 36 decoration stands and other services for the home, as well as an insurance company and nine entities dedicated to financing."
In the first half of the year, the commercial supply in Panama reached 1.8 million rentable square meters, 4% more than was reported in the same period in 2017.
According to a report from CBRE Panama, in the first six months of the year a total of thirteen Class B + and B sites entered the market, totaling some 47,000 m2of commercial space in Panama City. These projects registered an occupancy rate of 60.7%.As a result, average rents requested continued to decrease, with supply exceeding demand for existing available spaces.
Gov’t issued natural spring water rights, plus well permits will produce a little over a billion liters of clean water annually.
Gov’t issued natural spring water rights, plus well permits will produce a little over a billion liters of clean water annually. This 17-acre property in the Alajuela Province of Costa Rica that is for sale includes 2 homes, flat ground, borders Federal Reserve land, and has two access roads close to new main highway.
With the aim of encouraging more companies to invest in the development of social housing, the Varela administration has decided to raise from $50,000 to $60,000 the price of social housing solutions that are built in the provinces of Panama and Panama West.
In the resolution, which was published last week in the Official Newspaper La Gaceta, it is argued that the decision to raise the final sale price of the homes was taken "... in order to make it more attractive to developers nationwide so that they are interested in developing these types of projects."
In the first five months of 2018 the cost of new construction, additions and repairs in Panama fell by 41% compared to the same period in 2017, going from $784 million to $456 million.
The most recent figures from the Comptroller General of the Republic confirm what has been observed in the Panamanian market since last year: a constant decline in the number and value of new construction projects.
In the first three months of the year the amount of construction actually built in Nicaragua went down by 18% compared to the same period in 2017, mainly due to a decrease in residential projects.
Figures for the first quarter were mainly the result of a decrease in the amount of completed residential buildings (-16.6%), and those for services (-32.9%) and industry (-19.0%); and an increase in those used for trade (46.5%), explained the Central Bank of Nicaragua in a report.
The event will take place in San Jose on August 9 and 10, and participants from 18 countries in Latin America, North America and Europe are expected to attend.
The III Latin American real estate congress will be held at the Real Intercontinental hotel.
A statement from the Costa Rican Chamber of Goods and Services Brokers (CCBR) states that "... The event, which will take place at the Real Intercontinental Hotel in San José, will be a forum in which the best tools for the professional development of agents will be announced, through the search and exchange of information.The activity will be attended by 18 countries in Latin America, North America and Europe."
A decline in the arrival of new international companies to the country could be one of the reasons behind the increase from 21% to 24% in the availability of office space in the Panamanian real estate market.
According to a report from CBRE Panama, total availability in the office market increased during the second half of 2017, going up by 2.5%.The document adds that the office market closed the second semester with a total inventory of 1,661,234 m2, after making some adjustments of surplus stock and a demolished building.
The government has granted access permits for potable water that were pending for 102 construction projects valued at $300 million.
Representatives from the Executive Power and the National Association of Aqueducts and Sewers (ANDA), delivered the package of permits to the Salvadoran Chamber of the Construction Industry (Casalco), "...
The Panama Council has approved a moratorium on the granting of construction permits in the urbanization Villa Las Acacias, in the Juan Díaz district.
The suspension, which "... will be in force until hydraulic studies are made on the conduction, evacuation and final destination of rainwater and runoff in the sector ..." , also applies to real estate projects that are carrying out earthworks and that do not yet have a building permit.
East of the Costa Rican capital, in Curridabat, plans are underway to build a mixed development consisting of an office and apartment tower, and a shopping center with 200 stores, cinemas, food courts plus 1,200 parking spaces.
The project, according to the Environmental Impact Study (EIA) submitted in February of this year to the Setena, also includes expansion and remodeling of the hardware store EPA.
In recent years most of the real estate projects have been built in the traditional areas of Guatemala City, but now new developments are seeking to exploit other locations.
In Curridabat, in the eastern part of the Costa Rican capital, five apartment towers are being built, which will be added to the existing vertical housing supply in the sector.
On the road that connects the neighborhood La California with La Galera, east of San José, five vertical residential projects are currently being developed, which will be joined by seven others already inhabited since 2017.It is estimated that the 12 complexes add up to an approximate supply of 1,600 housing units.
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Gov’t issued natural spring water rights, plus well permits will produce a little over a billion liters of clean water annually. Gov’t issued natural spring water rights, plus well...
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O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
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